Gold closed higher than platinum today

tincup

Hasn't happened very often, but according to Kitco website, gold bid closed ten cents higher than platinum today. Gold closed at $1829.10 while platinum closed at $1829 even. Is this a fluke, or will gold keep moving past platinum?

gecko109

Platinum may be a victim of its own scarcity. Its about 30x rarer than gold, and is a heavily "industrialized" metal. There have been few, if any, circulating legal tender coins made of platinum in the history of the world, so its not psychologically tied to "money" like gold and silver are. In severe global economic collapse, platinum probably wont do well. Once catalytic converters are no longer needed en masse because of slumping auto sales....platinum will lose a lot of ground!

Although owning some platinum for diversification purposes is not a bad move, I wouldnt recommend that it makes up more than 15% of a person's physical metals stack.